Overdrive gear went out.
Dies on me.
Can't drive over 50 unless I would like the car to die before the school year starts up.
Just this year my Aunt gave me her sons car, boy was I thrilled... until I found out she gave it to me right before it was about to go out.
One day I was driving in overdrive and I was accelerating for the speed limit change and all I heard was engine revving. So I slowed down, and then it would work again... but only untill I got up to 40 MPH, then it would repeat the same problem.
I love driving this car, it accelerates quickly, and is comfortable. Getting in and out of it is okay, as long as you don't forget to wait for the seat belts to slide away, otherwise be prepared for a choking.
It turns out the people that gave me the car... never ever changed the oil filter... How is that possible??
The car has died on me on the way to school, but I got out, screamed at it, kicked the tire, got back in, and it started up again. I know I didn't help it, but it made me feel better and made my friends laugh at the story.
I would recommend a Cougar to anyone... if they drive as good as the older models. I would love to have a newer one... but I simply can't afford it, or the insurance that a new 2001 or 2001 Cougar would cost, I'm only 17 after all. At least it's a car though, its better than no car.
If you still have this car, check the cable connecting the transmission to the throttle. These are known to break a lot on these models, and your symptoms sound exactly like this is happening. On a side note, the car I bought had this exact problem, was yours a deep purple color? if so, I think I may have bought it haha.